USD/JPY - 84.38 Daily Market Outlook - Sep 2

02 September 2010 @ 08:41 pm EDT

Although dollar's cross-inspired selloff from Monday's 85.91 high to 83.66 earlier suggests correction from last week's 15-year low at 83.58 has ended, subsequent rebound to 84.67 suggests choppy trading sideways trading is in store and above said 84.67 resistance would extend gain to 84.90/00 but reckon 85.20/25 would cap upside.  

  

On the downside, below 83.66 would signal downtrend has resumed and further weakness towards measured objective at 83.10 would follow.

For more forex information, go to www.acetraderfx.com

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